Citibank Korea Plans Hanmi Sale

Reuters News Service

Updated June 13, 2006 12:01 a.m. ET

SEOUL, South Korea -- Citibank Korea, a unit of Citigroup Inc., will sell its controlling stake in leasing and financing firm Hanmi Capital to a local investment fund for 62.6 billion won ($65.6 million), Hanmi said.

The planned sale is the latest in a string of finance-company buyouts by local investment funds, which are hoping to emulate the...